The Capricorn Group, including the Capricorn Foundation and its subsidiaries Bank Windhoek, Capricorn Asset Management, Entrepo, and Bank Gaborone, has invested N$21.7 million in social responsibility programs and projects in Namibia and Botswana, marking an increase from N$16.3 million the previous year.
This comes after the group’s release of its annual Social Value Report, which precedes the group’s annual financial report scheduled for next week.
“As a Group, we are socially responsible and strongly committed to our stakeholders. In line with our brand promise of being ‘Connectors of Positive Change,’ we take pride in the value we create through our CSR initiatives by positively impacting lives,” said Marlize Horn, Group Executive: Brand and Corporate Affairs and Executive Officer of the Capricorn Foundation.
Horn said the majority of their initiatives are focused on addressing issues in education and food security.
“The Capricorn Foundation Food Waste Challenge is the first signature project of the Foundation and has been highly effective in raising broad awareness of the issue of food waste contributing to food insecurity,” she said.
Horn said the Group’s commitment to open and transparent reporting of its corporate social responsibility programs and their impact through the Capricorn Foundation.
“The Capricorn Foundation has made significant strides in fulfilling its mandate over the past three years as the main vehicle for the Group’s CSR. We are grateful to our numerous partners who continue to collaborate with us in the communities where we operate,” she said.
The Foundation’s Chairperson, Gerhard Fourie, emphasized the crucial role of the private sector in spurring economic growth and development.
“We are strong advocates for collaboration, and during the past year, we experienced the power of like-minded organizations from various sectors working together to find solutions for common problems. There is ample opportunity for even more collaboration to address the social challenges we face in Namibia and Botswana. One of these social challenges is unemployment, with youth being the largest demographic affected in Namibia. As the Capricorn Group, we are determined to identify channels for economic enhancement and job creation, such as vocational training programs and skills development initiatives that will improve the economic prospects of young people,” Fourie said.
The Capricorn Foundation was established in February 2020 as a Section 21 company and registered as a welfare organization to act as the primary vehicle for Capricorn Group’s CSR programs.
The Foundation supports projects such as The Never Walk Alone Project and Men On The Side of The Road, with a total of 32 projects under its wing.
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